Taiwan’s Economy Emerges From Recession as Spending Recovers
- Private consumption was main driver of growth, rising 12.1%
- Economy rebounded from two straight quarters of falling growth
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Taiwan’s economy climbed out of recession last quarter as consumer spending helped counter the global slump in demand that has weighed on trade for the past year.
Gross domestic product in the April-to-June period grew 1.45% from a year ago, official data showed Friday. That was higher than the median estimate of a 0.8% expansion in a Bloomberg survey of economists.